FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1484163670> ?p ?o ?g. }

• W1484163670 abstract "The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view. The economy should be considered as a complex adaptive system in which the agents constantly react to, influence and are influenced by, the other individuals in the economy. In such systems which are familiar from statistical physics and biology for example, the behaviour of the aggregate cannot be deduced from the behaviour of the average, or individual. Just as the organised activity of an ants' nest cannot be understood from the behaviour of a representative ant so macroeconomic phenomena should not be assimilated to those associated with the representative agent. This book provides examples where this can clearly be seen. The examples range from Schelling's model of segregation, to contributions to public goods, the evolution of buyer seller relations in fish markets, to financial models based on the foraging behaviour of ants. The message of the book is that coordination rather than efficiency is the central problem in economics. How do the myriads of individual choices and decisions come to be coordinated? How does the economy or a market, self organise and how does this sometimes result in major upheavals, or to use the phrase from physics, phase transitions? The sort of system described in this book is not in equilibrium in the standard sense, it is constantly changing and moving from state to state and its very structure is always being modified. The economy is not a ship sailing on a well-defined trajectory which occasionally gets knocked off course. It is more like the slime described in the book emergence, constantly reorganising itself so as to slide collectively in directions which are neither understood nor necessarily desired by its components." @default.
• W1484163670 created "2016-06-24" @default.
• W1484163670 creator A5080079347 @default.
• W1484163670 date "2010-08-31" @default.
• W1484163670 modified "2023-09-25" @default.
• W1484163670 title "Complex Economics: Individual and Collective Rationality" @default.
• W1484163670 cites W1564370218 @default.
• W1484163670 cites W1578254027 @default.
• W1484163670 cites W1595314118 @default.
• W1484163670 cites W1629693186 @default.
• W1484163670 cites W1972178529 @default.
• W1484163670 cites W2006296538 @default.
• W1484163670 cites W2012826719 @default.
• W1484163670 cites W2020682813 @default.
• W1484163670 cites W2023576194 @default.
• W1484163670 cites W2026665791 @default.
• W1484163670 cites W2032435386 @default.
• W1484163670 cites W2042149639 @default.
• W1484163670 cites W2049765976 @default.
• W1484163670 cites W2075591619 @default.
• W1484163670 cites W2076614925 @default.
• W1484163670 cites W2091462805 @default.
• W1484163670 cites W2096365673 @default.
• W1484163670 cites W2098201978 @default.
• W1484163670 cites W2113959337 @default.
• W1484163670 cites W2116075173 @default.
• W1484163670 cites W2135483914 @default.
• W1484163670 cites W2141042444 @default.
• W1484163670 cites W2158438518 @default.
• W1484163670 cites W2226396244 @default.
• W1484163670 cites W3121544971 @default.
• W1484163670 cites W3122174727 @default.
• W1484163670 cites W3124270227 @default.
• W1484163670 cites W3150491851 @default.
• W1484163670 hasPublicationYear "2010" @default.
• W1484163670 type Work @default.
• W1484163670 sameAs 1484163670 @default.
• W1484163670 citedByCount "51" @default.
• W1484163670 countsByYear W14841636702012 @default.
• W1484163670 countsByYear W14841636702013 @default.
• W1484163670 countsByYear W14841636702014 @default.
• W1484163670 countsByYear W14841636702015 @default.
• W1484163670 countsByYear W14841636702016 @default.
• W1484163670 countsByYear W14841636702017 @default.
• W1484163670 countsByYear W14841636702018 @default.
• W1484163670 countsByYear W14841636702020 @default.
• W1484163670 countsByYear W14841636702021 @default.
• W1484163670 crossrefType "book" @default.
• W1484163670 hasAuthorship W1484163670A5080079347 @default.
• W1484163670 hasConcept C136264566 @default.
• W1484163670 hasConcept C139719470 @default.
• W1484163670 hasConcept C162324750 @default.
• W1484163670 hasConcept C175444787 @default.
• W1484163670 hasConcept C17744445 @default.
• W1484163670 hasConcept C199539241 @default.
• W1484163670 hasConcept C201717286 @default.
• W1484163670 hasConcept C2781147659 @default.
• W1484163670 hasConcept C96016098 @default.
• W1484163670 hasConceptScore W1484163670C136264566 @default.
• W1484163670 hasConceptScore W1484163670C139719470 @default.
• W1484163670 hasConceptScore W1484163670C162324750 @default.
• W1484163670 hasConceptScore W1484163670C175444787 @default.
• W1484163670 hasConceptScore W1484163670C17744445 @default.
• W1484163670 hasConceptScore W1484163670C199539241 @default.
• W1484163670 hasConceptScore W1484163670C201717286 @default.
• W1484163670 hasConceptScore W1484163670C2781147659 @default.
• W1484163670 hasConceptScore W1484163670C96016098 @default.
• W1484163670 hasLocation W14841636701 @default.
• W1484163670 hasOpenAccess W1484163670 @default.
• W1484163670 hasPrimaryLocation W14841636701 @default.
• W1484163670 hasRelatedWork W1537415400 @default.
• W1484163670 hasRelatedWork W1545138734 @default.
• W1484163670 hasRelatedWork W1895366050 @default.
• W1484163670 hasRelatedWork W1923681097 @default.
• W1484163670 hasRelatedWork W2006128341 @default.
• W1484163670 hasRelatedWork W2025881442 @default.
• W1484163670 hasRelatedWork W2050032417 @default.
• W1484163670 hasRelatedWork W2059756249 @default.
• W1484163670 hasRelatedWork W2080370394 @default.
• W1484163670 hasRelatedWork W2114499604 @default.
• W1484163670 hasRelatedWork W2114619206 @default.
• W1484163670 hasRelatedWork W2133469585 @default.
• W1484163670 hasRelatedWork W2137358449 @default.
• W1484163670 hasRelatedWork W2141042444 @default.
• W1484163670 hasRelatedWork W2144846366 @default.
• W1484163670 hasRelatedWork W2145930759 @default.
• W1484163670 hasRelatedWork W2152717893 @default.
• W1484163670 hasRelatedWork W2158438518 @default.
• W1484163670 hasRelatedWork W2237624758 @default.
• W1484163670 hasRelatedWork W39937779 @default.
• W1484163670 isParatext "false" @default.
• W1484163670 isRetracted "false" @default.
• W1484163670 magId "1484163670" @default.
• W1484163670 workType "book" @default.